President Bola Tinubu has established a presidential taskforce to design new reforms in Nigeria’s petroleum sector. The move aims to improve efficiency, enhance transparency, and boost investment in the energy industry.

The taskforce will review existing policies, identify bottlenecks, and propose actionable strategies to modernize the sector. It will also engage stakeholders, including oil companies, regulators, and industry experts.

Tinubu emphasized that the initiative is part of his administration’s broader economic reform agenda, aimed at ensuring energy security and promoting sustainable development. The taskforce is expected to submit a detailed report with recommendations in the coming months.

The government hopes the reforms will attract new investments, reduce inefficiencies, and create jobs while strengthening Nigeria’s position in the global petroleum market.